VER - 1 Reason I'm Not Selling VEREIT
Real estate investment trust (REIT) VEREIT (NYSE: VER) cut its dividend in 2020, which is not a good thing. But that cut was, in some ways, the final step away from the company's previous incarnation, American Realty Capital Properties. With its past now fully behind it, VEREIT is ready to start showing the world what it can do. That's why I'm not selling anytime soon.
I watched as real estate investment trust American Realty built itself into a giant in the net-lease space, with a portfolio rivaling that of even industry bellwether Realty Income at one point. Net lease REITs own properties, but their tenants are responsible for most of the operating costs of the assets. American Realty had a huge double-digit yield, and since I'm a sap for dividend stocks , I bought in -- in part because the net-lease asset class tends to be a pretty conservative corner of the REIT sector. That was a mistake, and it slapped me in the face very quickly.
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1 Reason I'm Not Selling VEREIT